The craft beer industry has been growing exponentially since 2007, reaching an explosive peak in 2012. Craft beer total sales soared to $12 billion in 2012, which made craft breweries a competitive figure in the beer market. Statistics show that in 2012 craft brewers sold more than 13 million beer barrels, that resulted in the above mentioned total sale amount of $12 billion.
In spite of the economic downturn, the craft beer industry experienced an explosive growth. Current statistics show that more than 2400 craft breweries distributed their product in 2012, which is the highest figure since the inception of the craft beer movement in the 1970’s. This substantial growth was mostly driven by a sharp increase in customer demand. Research shows that beer drinkers are increasing their consumption of craft beer when they are going out to restaurants and bars, or purchasing from their local shops. Mintel Research showed that the primary market for craft beer are adults between their mid twenties and mid thirties. Another reason for the peak of craft breweries in 2012 is that the consumers showed more interest in purchasing local products and supporting their communities. The same Mintel Research showed that 50% of the craft beer consumers prefer to buy from local craft breweries and up to 40% of them feel that they can identify with the taste and culture behind their local craft beer.
Further statistical data reveals that the craft brewing industry experienced a 15% growth by volume and 17% growth by dollars in 2012. The sales shares also showed a 6.5% increase in volume and 10.2% increase in dollars.
Financial and statistical data support the eventual craft beer domination of the beer market, and it will a legitimate financial concern for the larger high volume domestic breweries. Craft breweries simply aim to give customers a better alternative, so they can experience beer the way it was intended. Mintel Research has been forecasting further growth for the craft brewing industry and estimated it will reach $18 in sales by 2017.Read more